Leerink Partnrs Weighs in on Envista Holdings Co.’s Q2 2024 Earnings (NYSE:NVST)

Envista Holdings Co. (NYSE:NVST) – Equities research analysts at Leerink Partnrs lowered their Q2 2024 earnings per share estimates for Envista in a research note issued to investors on Thursday, May 2nd. Leerink Partnrs analyst M. Cherny now forecasts that the company will post earnings of $0.33 per share for the quarter, down from their previous estimate of $0.36. Leerink Partnrs currently has a “Underperform” rating on the stock. The consensus estimate for Envista’s current full-year earnings is $1.41 per share. Leerink Partnrs also issued estimates for Envista’s Q3 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.36 EPS, FY2024 earnings at $1.28 EPS, FY2025 earnings at $1.47 EPS, FY2026 earnings at $1.62 EPS and FY2027 earnings at $1.79 EPS.

A number of other research analysts also recently weighed in on the company. SVB Leerink initiated coverage on Envista in a report on Monday, February 26th. They set an “underperform” rating and a $19.00 target price on the stock. William Blair cut Envista from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 8th. TheStreet lowered Envista from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. Jefferies Financial Group lowered shares of Envista from a “buy” rating to a “hold” rating and decreased their price target for the stock from $30.00 to $23.00 in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Envista from $29.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Envista presently has a consensus rating of “Hold” and a consensus target price of $25.86.

Envista Price Performance

Shares of NYSE NVST opened at $19.01 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.23 and a quick ratio of 1.90. Envista has a 1 year low of $18.09 and a 1 year high of $36.74. The company’s 50-day moving average is $20.74 and its 200 day moving average is $22.57. The stock has a market capitalization of $3.27 billion, a P/E ratio of -26.62, a P/E/G ratio of 3.73 and a beta of 1.35.

Envista (NYSE:NVST) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $623.60 million during the quarter, compared to the consensus estimate of $634.85 million. Envista had a positive return on equity of 5.80% and a negative net margin of 4.70%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Headinvest LLC bought a new stake in shares of Envista during the 3rd quarter valued at $28,000. Fifth Third Bancorp grew its holdings in Envista by 98.1% during the fourth quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock valued at $30,000 after purchasing an additional 621 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Envista in the third quarter worth about $47,000. Signaturefd LLC increased its position in Envista by 1,297.9% in the fourth quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock worth $63,000 after buying an additional 2,427 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Envista by 33.9% in the third quarter. Covestor Ltd now owns 2,462 shares of the company’s stock worth $69,000 after buying an additional 624 shares during the period.

About Envista

Envista Holdings Corporation, together with its subsidiaries, develops, manufactures, markets, and sells dental products in the United States, China, and internationally. The company operates in two segments, Specialty Products & Technologies, and Equipment & Consumables. The Specialty Products & Technologies segment offers dental implant systems, guided surgery systems, biomaterials, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists and periodontists, and general dentist; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products.